REGISTERED COMPANY NO 02088483
REGISTERED CHARITY NO Z97353
THE SPRING ARTS & HERITAGE CENTRE CO LTD
REPORT OF THE TRUSTEES AND
RNANaALsfATEMEKrs
FOR ThE YEAR ENDED 31 MARCH 2025

THE SPRING ARTS & HERITAGE CENniE CO LTD
CONTENTS OF THE FINANCIAL STATEMEpirs
Page
Report of the Trustee5
Report of the Independent Auditors
io
Statement of Financial Activities
14
8alan¢e Sheet
15
Cash Flow Statement
16
Notes to the Cash Flow Statement
17
Notes to the Flnancial Statements
18
Page 2

THE SPRING ARTS & HERITAGE CEfrmiE CO LTD- REGisfERED COMPANY NO 02088483
REPORT OF THE TRUSTEES
The trustees of The Sprln& who are aLs0 directors of the charity for the purposes of the Companles Att 2006,
are delighted to present their report with the financial statements of the charity for the year ended 31 March
2025. The Trustees have adopted the proviskJt75 of Accounts and Reporting by Charitles: Statement of
Recommended Practice appllcable to chartties preparing their accounts in accordance with the Finance
Reporting Standartl Applicable in the UK and Republic of Ireland IFRS ID21 leffectlve l January 20191.
OBJECTIVES AND AcrivtTIES
Objectives, Artivities, Achlevements and Public Benefft Policy
The Spring Arts & Herttage Centre Co Limited's objects are forthe benetrt of the public in the edvaneement of
knowledge and understanding of arts. heril3ge and culture amongst the Inhabitants of Great Brltaln and in
particular among the inhabitants of the Borough of Havant and the surroundirbg localtty- The beneftciarles of
the Charitable Companfs work are the general public. The majorlty of actlvtties are not restricted to settion5
of the public. although some projects are tsilored towards targeted demographlc or idenlified needs.
Our Purpose: Ourwhy
Empowering people through arts, creatlvtty and cuttu￿.
Ourmslon
Through art5, creativty and culture, we want to empower the people of Hawdnt and beyond to dlscover new
ideas, learn new skills and find new fijtures.
We want to raise people's aspirations, help them achieve their potential and enhance thelr qualty of Ilfe.
Together we will rnake Havant Borough and surrounding areas a place people wanl to visit, to work in and live
in. A place where people thrlve.
We belleve that everyone deserves the Chan￿ to learn new thlngs. explo￿ new ideas and continue to grow.
We recognise that access tan be limtted and challengin& but we want to work together to challenge the
status-quo thrDugh the power of arts. creatwity and culture.
Our Values
We are open- we believe In belng open, clear and inclusNe- we approach everythlng with warmth and
We are connectors- we believe that together we are stronger- we put time and energy Into actlvely
connecting communities, art￿ts, audien¢es and partners
We are couraEeous- we believe in belng brdve, bold and fun; we are not afrald of experimenting and trying
new things
Our Mlsslon
To facilitate dynamic, creative and Cultural opportunities that empower communities and artists across
Havant, Hampshire and beyond.
To bring together artists, cieatives, participants and audiences, to create, learn and growtogether.
To collaborate both locally and nationally. contributing to the local ecology. economic growth and
sustainability.
Page 3

Who We Are
The Sprlng is an independent Charity and a Company Limited by Guarantee.
We are a cross-artForm and herltage OTganisatlon that collaborates wtth artists. creatives and organisations.
both locally and natlonallv.
We are a hub for creatSvity, Eearnlng and cu￿Ural opportunltles for the communtty and beyond.
Over the past year The Spring has developed a new 3 year vision, which encompasses the purpose, vision,
values and mission expressed above. This was led by the CO-CEOS w￿h detailed involvement from trustees
and staff.. It charts a new way forward for The Spring and will be refreshed annually.
Review of ihe Year
The Sprlng has had a SucCe￿ul year. with the Organ￿ation welcoming Increased audlences, new partnerships
being for8ed and increased income being generated.
Highlights of the year Include:
TheHub
We run a venue as an arts, heritage and community hub in Havant Town as 3 centre for creativity and
connectlon. We delivered a full cultural programme of live events, workshops, event clnema and eyhibitions.
We presented 507 events in our theatre, including theat￿, comedyi music and event cinema. Comparing the
calendar year of 2024 with 2023 we Increased revenue by £51.532. sold 624 rnore tickets in the year and we
had 1828 first time bookers.
We held over X creative workshops in addtlion to hiring out space to local busine55es and community groups.
Our café is a destination café for local residents as well as for those coming to events and activities within our
building. Community group5 contlnued to Use us as a base including the Breast Feeding network, Benardos
and sccial prescribing groups.
enin
Creative Industrie5
With the support of Arts Council we were able to develop a new pilot project'open Up & Take Overf to give
voung people of Havant Borough opportunities, agency and ownership of their community through the
performing arts. The projett will activelyfacilttate creative OPPDrtunrtSes and experiences for young people-
opening up the creative industries to them in temis of lrfe skllb and potential career5. It will connect young
people across the Borough, providing shared ambitions and a deeper sense of community. Over 24125 we
raised over £50k towards the projert and the artivtty will take place in 25126.
We hosted a tech residency *or Lost Dog in order for them to remount Paradise Lost in advance of a national
tour. We then shared a preview performance with our aUdien￿5- something we would not nomially be able
to do with a company of this scale and renown. We also presented a work-irt-progress performance of
Tonlght Someone Dies by Robin Hat¢her which sold OUL demonstrdtingthe appetite and demand from our
audiences for having a window into the creative journey.
We presented Sue Greenfields 'When the Siren5 Were Comin¢ exhlbltion, supportinB her to use the
opportunity to ra￿e the profile of her work which reSU￿ed in the artlst getting pieces from the exhibition
presented in some major venues In London and Surrey.
Page 4

Creative Wellbein
Our Open Exhibition this year attracted 82 subm￿lOn5. of which 42 were selerted to exhiblt including 6 of
which were created by young artlsts. We programmed an addttional tem time art workshop alongside our
regular programme which proved very popular with 478 people attending the 340 sesslons. We continued
with our programme of heritage walks which attrarted 355 participants, connetting them to the history and
landscape of the Borough and tsther fellow enthusiasts whilst engaging them in physical activity-
We contlnued to run The Art Space. a free inclusive partlclpatory creative group designed to build confidence
and combat loneliness. In 2024 74 Art Space session5 took place. wrth over 1,200 vlsits. wtth over half the
attendees having additional needs. We delivered 12 Creative Memory cafes for those livlng with dementia
and their carer5, fundeil by Home Instead, and supported the curation and delivery of the Havant Dementia
Information day attended by over 150 people from across the Borough.
Throughout the year we have been an active member ofthe Havant Place Partnershlp, working closely with
health and physical activity partners to secure investment from Sports England into Havant BorouBh.
Children & Youn
Peo
We presented a range of experience5 for children, young people and families throughout the year including
an Inter8enerational interactive Instsll3tion- The Magic Library by Ltile Bulb-that connected with the
Summer Reading Challenge. In situ for the whole of the Summer holidays the exhibition was attended by over
350 familles and children wrote stories and creative irnaginings that we presented around the building.
At Christmas we presented Little Robin Red Breast by Filskrt Theatre both within our venue and across the
libraries in the Borough. Clver 300 audience member5 Saw the perfDrmances.
Our free play 5pa¢e has continued to be popular and is viewed as a safe space for children to play whilst thelr
aduks can connect with one anoiher. gain support from thelr peeT5 and relax.
Piacemakin
We completed the National Lottery Herttage funded project The exptoratlon, audits. feasibility studies,
training and pilot activity undertaken as part of the project all directlyfed into the devèlopment of our new 3
year vislon.
We hosted a nurnber of the event5 for HavanV5 first programme wthhln the Heritage Open Day initiatlve
which reached over 800 audience members and wè joined the Havant Heritage Open Day Consortium In order
to help shape future activity-
We secured investment thmugh F￿Ure Arts Centres to commission a textiles artist to cullaborate with Dur
communities to create a new piece of artwork that marks 80 years since VE/VI day and gathers the thoughts
and views on freedom of the people of Havant Borough. The projert will be delivered throughout 2025.
The Trustees ané staff Df The Spring would like to thank our audiences. communtty. funders, partners and
volunteers for their support thi5 year. The or8anisation ts resilient and Is looking forward to the future.
Publlc Benefit
The Trustees confirm that they have referred to the Charlty Commission's guidance on public benefit when
reviewing thè charrties aims and obJettive5 and in planning future a¢tiYitie5. The Trustees refer to public
benefit throughout thls report.
Page 5

Flnantlal Revlew
In 2025, The Spring has made a modest of unrestricted surplus of £3.167 followlng an unrestricted deficit In
the previous year 2024..1£20,5691. The additional income from charltable actÉvities have contributed to th￿.
Income has increased in the professional prograrnme, particlpatlon Iworkshopsl and box offlee services. Thls
15 reflected In the charrtable activities income figure of £406.87112024- £360,958). In 2025 the income mix
3cross the organisation's activities was similar to the prior year. The programme generated 45% of total
chartable income150% in 20241. ￿nI31 income wa5 maintained at 19% (same in 20241. The Sprinls well
established partlclpatlon activities increased slightly to 16% from 14% in the previous year. Finally, Income
derived from box offices services The Spring provides on behalf of partner organisatlons Increased to 20%
117% In 20241.
The Spring received three grEnts from Its core funders and three grants for project funding. The total amount
of grants received from core funders was the Same as in the prevlous year1£195,9981.
The organisatlon's total unrestricted and restricted income for the year increased by 4% to £712,381
(£682,774 In 20241.
Totsl unrestricted expenditure was £640,450 in 2025 vs £633,747 in 2024. Dlrert expendlture on the Sprinls
programme and particIp￿lOn actNities was £632,500 vs £617,489 In 2024.
Following a revlew of the st3fFing structure carried In 2024. total staffing costs were £264,820 vs £239,681
in 2025 with an average of 19 employees118 in 20251.
Utllkty costs for the year were in line wtth 2024, These had gone up by up to75% in the previous years, 50 the
stabilty in costs eased pressu￿ on the orgnaisation'5 overhead costs.
Restricted funds that had been raised in previou5 years were Spent in line with planned projects. In 2022-23
The National Lottery Heritage Fund confim)eil a grant for reimagining the museum at The Sprlng. Costs Bre
InCUr￿d by The Spring in line with the grant conditions and then clalmed back from the Nation31 Lottery.
Restrlcted fund5 at 31 March 202 5were £28,61512024: £13.32JI.
The Spring's Trading Subsldiary made a £590 to the charwty th6 ye3r12024'. £20,(KJll. The Tradlng SubsIdla￿s
operation5 SUPPOrt those of The Spring.
Reserves Policy
The Springs trustees alm to maintain reserve5 to SUPPOrt the appropriate delivery of the Charl￿5 objectives
and work and to mlnimlse risk to the organisation.
At the end of the year The Spring had total fijnds to carry forward of £297,23912024.. £251,679). consisting of
£28,61512024: £13.3211 of restritted funds and £268,26412024-. £238,358) of Un￿StriCted funds.
The Trustees have reviewed thè reserves policy. Free reserves are Un￿strIcted reserves available for
spending, that is unrestricted funds that have not been designated and are not tied up a5 fixed assets or
investments. At 31 March 2025 The Spring had freÈ reseEves of £57,33712024.' £90,045). Free reserves have
increased this year due to the transfer of some des18nated of funds back to general funds.
The Spring's unrestricted reserves are divided into a series of designated funds to best support the
organisation. These are..
11 Resilience Fund - £155,000
These are retained for emergency use, and a￿ retained to SUPPOrt the organi5ation in the event of a dramatic
reduction in fundlng (for example, the endlng of a relationship wf£h a revenue funderl or in the event of
signiFicant maintenance or repair needs to the building. In extreme tirtumstances. this fund may be used to
cover wlnding up costs of the charity. A review of unrestricted fund5 was carried out in the year and the
trustees have increased the emergency fund to £155.0(KJ to mttigate against financial risks and by keeping
enough general reserves for any potential 5hortterm deficits.
Page 6

21 Infrastructure- Buildrng Fund- £50,000
The Spring Arts & Heritage Centre could not operate wlthout certaln key items of equipment of infrastructure.
These reserve5 are designed to support the ￿placeMent of key items such as the Ilghting rig and sound
equipment. These reserves may also be used in capltal bids as match funds to secure funding for such items.
Strurture, Governance and Management
The Spring Arts & Heritage Centre ￿ a company limrted by guarantee Ilncorporated in England and Wales on
12 January 19871. It Is governed by a Memorandum of AssoCiat￿n. tt Is registered wrth the Charity
Commisslon Ino. 2973531.
Trustees and Management Structure
The Board of Trustees admlnisters the Charitable Company. New Trustees are given an indurtion which
Includes Charity Commission guidelines on the re5ponsibilTtie5 of Trustees, last year's audited accounts, threo
previous sets of Board Minutes, the last Management Accounts. the Busines5 Plan and the Memorandurll of
Association. Trustees are encour3ged to attend external training events to asslst them In their mle.
The Trustees meet at least fDie times a year, and more when required. The Charttable Company's AGM ts held
in the autumn. The Board decides the overall policy for the organlsation based on its objects. It delegates the
day-to-day management to Co-chief Executlves who are not members of the Board and are paid employees of
the Charitable Company. Trustees each have an area of responsibility wtthin the organisation's actlvttie5 and
work wlth the C¢FChief Executives to ensure that their area of eXpert￿e Is deliverlng to the overall objettives
and the business plan.
Related Partiès
Arts Council England and Havant Borough Council provide e55elltial core fvnding to the Charrtable Company.
Both organisations are invited to provide officers to attend meeting5 as Obse￿eTS to advlse the company.
The Charitable Compan￿$ wholty owned subsidiary, Havant Arts Acttve, operates the bar, catering and retail
facilities at the Charitable CoMpan￿S premise5. The Spring holds 25.100 shares in Havant Arts Active.
Rlsk Management
The Trustees review the organisation's risk management plan regularty, wtth the major risks reviewed at each
trustee meeting. The risk managemènt plan identifies the riEks the charty is exposed to ensure that systems
and processe5 are in p13ce to mitigate them.
The main risks currently identffied are:
- The reductirtrn and loss of core funding
Securlty Df tenure, as the buildin<$ lease is currently being negotiated wkth the Borough Council
Strategie5 are in place to mitigate and manage all these areas.
In November 2022 The Spring was confirmed as a National Portfolio Organlsation for a further three ye3rs
from l Aprll 2023 and NPO funding has been secured for 26/27. 24125 was the last year of revenue fundlng
from Hampshire County Council. The Spring is pivoting ivs busine&s model to be le55 reliant on public funding,
increasing partnership working and earned Income opportunities as well as developlng and Implementing 3nd
individual givin8 Strategy.
The Executive Director is managlng the ongoing conversation wtth Havant Borough Council regardlng the
negoliation of the organisation's lease. The Sprlng is in re￿ipt of professional advice to ensure the
appropriate renewal.
Page 7

REFERENCE AND ADMINISTrATIVE D￿AlL5
Registered Company number
02088483 (England and Wales)
Re8lstered Charlty number
297353
Reglstered offlce
Havant Arts Centre
East Street
Havant
Hampshire
P09 IBS
Trustees
The Directors of the Charitable Company are tts trustees for the purpose Gf chaihy law and throughout thls
report are collecthrety known as Trustee5.
Mrs M Mcmurray
Mrs R Bown5
Ms 5 Shephard
Mr S Garner Gibbon5 {Reslgned 30th April 20251
Mr N Curry IResigned Ilth November)
Ms L Flannery (Appointed 31. March 20251
Mr P Hammond (Resigned 31" March 20251
Mr R Mcmillan (Resigned iith November 20251
Ms F Moody (Resigned 31" March 20251
Ms L Bern (Appolnted 1st July 20251
Mr J Daley IAppolnted Ilth November 20251
Mr B Mccarthy IAppointeil 30th July 20251
Ms H Murphy IAppointed 1st JU￿ 20251
Ms T stskes IAppolnted 30th ju￿ 20251
Company Secretary: M5 Fiona Baxter
CO-CEO & Executive Dlrector: Ms F Baxler
CO-CEO & Creative Dlrector: Ms L Woodward
Audltors
MC Audit Limlled
Chartered Accountants
Statutory Auditors
Station House
North Street
Havant
Hampshire
P09 IQU
Page 8

Bankers
Barclays PLC
Portsmouth
Leicester
Lelcestershire
LE87 2BB
STATEMENT OF TRUSTEES RESPONSIBILMES
The trustees (who are also the directors of The Spring Arts & Heritage Centre Co Ltd for the purposes of
tompany lawl are responsible for preparlngthe Report of the Trustee5 and the financial statements In
accordance with applicable law and Unrted Kingdom Accounting Standards (United Kingdom Gener8lly
AC￿pted Accountlng Praetleel.
Company law requlres the trustees to prepare financial stslements for each financial year whlch glve a true
and fair view of the state of affairs of the Charitab￿ company and of the incoming re50urce$ 2nd application
of resources, Including the income and expenditure, Of the charklable company for that perlod. In preparing
those financlal statements, the trustees are required to
select surtable accounting policies and then apply them consistent￿.
observe the methods and principles in the Charity SORP-
make ludgements and estimates that are reasonable and prudent-
prepare the flnancial statements on the going concern bas￿ unless it is inapproprlate to presume
that the charitable company wlll contlnue in business"
The trustees are responsible for keeping proper accountin8 ￿cOld5 whith disclose with reasonable accuracy
at any tlme the finantial position of the charitable company and to enable thÈm to ensure that the financial
statements comply with the Companies Act 2C￿6. They are also responsible for safeguarding the asset5 of the
charitable company and hen￿ for tsklng reasonable steps for the prevention and detectlon of fraud and
othèr irregularitie5.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the Trustees are aware there is no relevant audit information las defined by section 418 of the
Companies Act 2(N)61 of which the charitable companies, auditors are unaware and each Trustee has taken all
the steps that he ought to have taken as a Trustee in orderto make himselF aware of any relevant audtt
information and to e5tzblish that the charitable company's audtlors are aware of that information.
The Auditors are approved annually at the AGM.
Thi5 report is prepared in accordance with the special provisions of Part 15 of the Companies Act 2006
relating to small groups.
AUDITORS
The auditors, MC Aud¥t Limited, will be proposed for r￿apPoIntMent at the forthcoming Annual General
Meetlng.
Approved by order of the board of trustees on
.Mi4
Mrs M Mcmurray
Page 9

THE SPRING ARTS & HERITAGE CENTRE CO LTD
REGlSfERED COMPANY NO 02088483
REPORT OF THE INDEPENDENT AuorroRS TO THE MEMBERS
Oplnion
We have audited the flnanclal statements of The Sprlng Arts & Heritage Centre Co Ltd Ithe 'charftable
company'l for the year ended 31 March 2025 which comprlse the Ststement of Financial Acttvities, the
Balance Sheet, the Cash Flow Statement and notes to the financial statements. includlng a summary of
significant accounting policies. The finan¢lal reporting framework that has been applied in their preparation
is applicable law and United Klngdom Accounting Standards Iunlted Kingdom Generally Accepted Accounting
Practl¢el.
In our opinion the financial statements:
glve a true and fair vlew of the state of the charitable company's affairs as at 31 March 2025 and of its
Incoming resources and appllcation of resources. Including its income and expendItu￿, for the year ihen
ended;
have been properly prepared in accordance wlth Unlted Kingdom Generalty Accepted Accountin8 Practlce,.
and
have been prepared In accordance wr¢h the requirements of the Companies Art 2006.
Our responslbiltty Is to audlt and express an opinlon on the financial statements in accordance with
appllcable law and International Standards on Aud￿iDg (UK and Irelandl- Those standard5 require us to
compty with the Auditing Prartices Board's Ethical Standards for AudTtors.
Basls for oplnlon
We conducted our audit In accordance wtth International Standards on Audtting IUKI IISAS IUKII and
appllcable law. Our respollsibilities under those stsndards are further described in the Auditors,
responsibilities for the audit of the financial statements section of our report. We are independent of the
charltable company In accordance wlth the ethical ￿quIrements that are relevant to our audit of the
financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilr(ies in accordance wlth these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basi5 for our opinion.
Concluslons rèlatlng to golng conrarn
In audrtlng the fSnancial statements, we have concluded that the trnstees, use of the going concern basis of
accountln8 in the preparation of the financial statements is approprlate.
Based on the work we have perfomied, we have not Identlfied any material uncerEaintles relating to events
or conditions that. individualty or collectivety, may cast significant doubt on the charltable company's ability
to continue as a going concern for a period of at least twefve months from when the financial statements are
aLrthorised for issue.
Our responsibillties and the responsibilities of the trnstees w￿h respert to going concern are descrlbed In the
relevgnt sections of thi5 report.
Page10

THE SPRING ARTS & HERITAGE CENTRE CO LTD
REGISTERED COMPANY NO 02088483
REPORT OF THE INDEPENDENT AUDrroRS TO THE MEMBERS
Other Inforrnatlon
The trustees are responsible for the other information. The other information comprises the Informatlon
included in the annual report. other than the flnanclal statements and our Report of ihe Independent
Auditor5 thereon.
Our oplnion on the flnancial ststements does not cover the other infomiation and. except to the extent
otherwise explicitly stated in our report. we do not expre55 any form of a55urance conclusbon thereon.
In connertlon wlth our audit of the ftnancial statements. our responsibility is to read the other inforrnation
and, in dolng sts, conslder whèther the other infomiation is materially inconslstent wlth the financial
statements or our knowledge obtained in the audit OT Otherwise appears to be materially mi5Stated. If we
Sdentify such material inconsistencies or apparent material mi5Statements. we are required to determine
whether thls give5 rise to a material ml55tatement in the finarjcial statements themselves. If. based on the
Work we have performed, we conclude that there Is a material misststement of this other information, we
are required to report that fact. We have nothing to report in this regard.
Opinion on other matters prescrlbed by the Companies Art 2(M)6
In our opinlon, based on the work undertaken in the course of the audit:
the information given In the Report of the Trustee5 for the financial year for which the financial statements
are prepared 15 consistent with the financial statements,. and
the Report of the Tru5tee5 ha5 been prepare(l in accordance wtth appIl￿ble legal requirements.
Matters on whith we are requlred to report by exceptlon
In the IIEht of the knowledge and understanding of the charitable company and Its envlronment obtalned In
the course of the audit, we have not identified material misstatements in the Report of the Trustees,
We have nothing to report in respect of the following matters where the Companies Art 2006 requires us to
report to you rf, in our opinion:
adequate accounting records have not been kept or relurn5 adequate for our audit have not been received
from branches not visited by us: or
- the financial Statements are not in agreement wfth the accounting records and returns: or
certain disclosures of trustees, remuneratlon 5pecrfled by law are not m3de,' or
- we have not received all the information and explanations we require for our audit. or
the trustees were not entrtled to take advantage of the small companies exemption from the requlrement
to prepare a Strategic Report or in preparing the Report of the Trustees.
Responslbllltle5 of tru5tee5
As explained more fully in the Statement of Trnstees Responsibilltie5. the trustees Iwho are also the directors
of the charftable company for the purposes of company lawl are responsible for the preparation of the
financial slatements and for being satisfied that they gNe 3 true and fair view, and for such internal control
as the trustees detemilne is necessary to enable the preparat￿n of fina￿(la1 statements that are free from
material mi55t3tement, whether due to fraud or error.
In preparing the financlal statements, the trustees are responsible for assessing the charitable company's
ability to ¢ontinue as a going toncÈrn, distlosin& as applicable. matters related to Eoing concern and using
the going concern basis of accounting unless the trustees either intend to liquidate the charitable company
or to cease operations, or have no realistic alternative but to do so.
Page 11

THE SPRING ARTS & HERITAGE CENfRE CO LTD
REGISTERED COMPANY NO 02088483
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS
Our responslbilities for the audil of the fftnandal statements
Our oblectlves are to obtsln reasonable assuran￿ about whether the financial statement5 as a whole are
free from material misstatemen¢ whether due to fraud or error, and to issue a Report of the Independent
Auditors that includes our opinion. Reasonable assurance is a high level of a55uran¢e, but is not a guarantee
that an audit conducted in accordance with ISAS IUKI will always detert a materi31 misstatement when it
exists. Mlsstatements can arise from fraud or error and are considered material if, indNidually or in the
aggregate, they could reasonably be experted to Influence thè economic declsions of users tsken on the
basis of these financial statements.
Irregularfrties, including fraud. are instances of non-compliance with laws and regulations. We de51gn
procedures in Ilne wlth our responslbilitles, outlined above, to detect material mi55tatements In respert of
irregularities, including fraud. The extent to which our procedures are capable of detettlng irregularitlès,
including fraud is detailed below..
From dlscusslon wfth management and those charged wlth 8ovefnance information about the entity 15
documented to assess the activity within the organisation. We discuss managements assessment of risk In
respert of irregularlties. fraud and golng concern.
Based on these discussions and our own assessments we detemiined that the key rlsk areas were income
recognition, going concern and management override concerning the size of the organ￿atIon.
We set flnanclal ststement materiallty level based on the level of income. As a not for profit organlsation
r?Islng Income is It5 prfmary focus which s why income was used to determine the level of materialrty. Our
overall assessment of risk was used to determine performance materiality at an approprlat@ lev@l.
Substantive audit tests were designed after asse55ing and testing systems and controls. The systems and
controls which h3ve been deslgned io au as a preventatNè measure against fraud and error were operating
as documented. Substantive testing tested a sample of the populatlon. representatfve of the population, to
identify error5. The testing did not identify any material misststements in area5 tested.
Audit substsntive tests concluded no material errors over the key risk areas of Income recognition and
management override.
The audit considers the organi5atiOll 15 not exposed to material risk of error as a result of assessing laws and
regulations that are appropriate to the organisation.
Management assessed there is no going concern risk. The audlt undertook a revlew of budgets. management
accounts and the review of board minutes and came to the same conclusion as management.
A further description of our responsibilities for the audrt of the financial statements Is located on the
Financial Reporting Council's website at www.frc.org.uvauditorsresponslbilities. This description forms part
of our Report of the Independent Auditors.
Page 12

THE SPRING ARTS & HERITAGE CENTRE CO LTO
REGISTERED COMPANY NO 02088483
REPORT OF THE INDEPENDENT AUD￿oR5 TO THE MEMBERS
Use of our report
Thls report is made solely to the charitable company's members, as a bodyi in accordance with Chapter 3 of
Part 16 of the Companies Att 2￿6. Our aud￿ work has been undertaken so that we might state to the
harltable company's members those matters we are required to state to them in an auditors, report and for
no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone other than the charttable company and the charrtable company's members as a body, for our audit
work, for this report, or for the opinions we have fornied.
Stuart Mackie (Senior Statutory Auditor)
for and on behalf of MC Audit Umtted
Chartered Accountants
Statutory Auditors
Statiorb House
North Street
Hav2nt
Hampshire
P09 IQV
Date;
1811212025
Page13

THE SPRING ARTS & HU4ffAGe CENTre co LTD
REGisfERED COMPANY NO
STATEMENT OF FINANCIALAcfiviTIES IINCORPORAIING INCOME AND EXPENDMJREACCOUNTI
FOR THE YEAR ENDED 31 MARCH 202S
Note5
2025
2024
Ur4re5trfcted
funds
Restricted
Funds Total Fund5
Total Funds
INCOME AND ENDOWMENTS FRIY
DonatDns. legacies and grants
221.113
68.763
289,876
292,658
Charitable actlviiles
Performance aLtivftie5
other trading actmties
Investment income
Other in¢ome
Totsl
406.871
5.152
5,922
4560
eA3.617
406,871
5,152
5,922
4,560
712,381
360.958
5,259
4,846
19,043
682.774
68,763
EXPENDITURE ON
Raising funds
Charltable actmtles
Performance adhrides
Totsl
111.2071
111.2071
116,2581
1629,2431
1640.4501
126,3711 1655.6141
126,3711 1666.8211
1691,0281
1707,2861
￿￿{ExPENDITuRE}1INCOME
3.167
42,392
4?,560
124,5121
Transfers betweenfvnd5
19
27.098
127.0981
MOVEMENT IN FUNDS
30.265
15,294
45,560
124.5121
AECONCILIATION OF BJNDS
Total funds brought forw4rd
238,358
13.321
251.679
276,191
TOTAL FUNDS CARRIED FORWARD
268.623
28,615
297,239
251,679
CONTINUING OPERATIONS
All incorne and expÈndlture has arisen from conbnuiTrg actMIIÉs.
Page 14

THE SPRING ARTS & IIERITAGE CENfRE CO LTD
REGISTERED COMPANY NO 02088483
BALANCE SHE￿ AT31 MARCH 2025
31 MARCH
31 MARCH
Notes
FIXED A5SEts
Tanglble Assets
Investments
14
15,112
25.IC
40,212
23,854
23,100
48,954
CIJRRENT A5SErs
Debto
sh at Bank
16
20.043
339.940
359.984
60,593
292.718
353,311
CREOITORS
Amounts falling due wlthin one year
17
1102.9571
1150,5861
NET CURRENfASSErs
257.027
202.725
TOTAL AS5Efs LESS CURRENT UA8ILmES
297,239
251,679
NET ASSETS
297,239
251,679
FIJNDS
Unrestricted fynd5:
Unde5ignated
Designated
Restricted funds
63,623
20i,LYJI
28,615
110.170
128.188
13.321
SHAREHOLDERS, FUNDS
297,239
251,679
The financial statements have been prepared in ac£ordantr with the pmisions of Part 15 of the Companies Art 2CIJ6
rElatin8 tQ 5rnHS1 charrtable companles.
The flnanclal statements were approved by the B03rd of Tnjstees on
behalf by..
and We￿ signed on its
Trustee Mrs M Mcmurray
Page 15

THE SPRING ART5& HERtfAfjE CE14TrECO LTD
REGISTERED CQMPANY NO I)2088483
CASH FLOW STATEMENT FOR THEYEAR ENOED 31MARCH 2W25
31
31
MARCH
2014
MARCH
1025
ash flows from oper8tSn8 actlvEtles:
sh 8enerated from Ope￿￿￿115
52,714
55,375
Net cBsh provlded by lused Inl oporatlnÈ a¢ii
52.714
55,375
Cash flows from InvestlnE a¢tlt41ties
Proceeds from the sale of plant and equrpment
Purchase of tangible fixed a55ets
Interest recelved
1,644
11,2991
4,846
14
111.4141
5.922
Net ¢ash ptovlded by lused In) Im￿$11￿8 adlvi
15,492
5,191
chan￿ In Cash and ¢ash e4u17ralents In the xewyil
perlod
Cash and cash equlvalenl$ otthe beglnnln8 of reportlng
perlod
47.222
60.566
292,718
232.152
Cash and cash equiwdlen15 atthe end olth• rep(*tiw
perlod
339.940
292,718
Pa8e18

THE SPRING ARTS & HEAITAGE CEPITrE CO LTD
REGISTERED COMPANY NO 02088483
NOTES TO THE CASH FLOWSTATEMEP
2025
2024
Net Income lexpendlturel forthe reportlng
perlod las per the statement of finand
actlvities
Adjusments for:
Depreciation charges
Interest received
Lossllprofitl on di5PQsal tsf fixed assets
IlncreasellDecrea5e in debtors
In¢rease/lDecreasel in creflitor5
45,560
124.5121
19,597
15.9221
561
40,55CI
147.6321
21,505
14,8461
11.0851
533
63,780
Net cash provlded by (used In) ¢yralOng
artlvltles
52.714
55.375
Page 17

THE SPRING ARTS & HER ￿AGE CEIITrE CO LTD
REGlfEftED COMPANY NO 02088483
NOTES TOTHE Fif4ANCIALSTATEMEpirs
I ACCOiJNTINfj p￿aEs
Ba5[$ of preparingthe flnandal sttemert
The financial ststements of the charit3ble company. which Is a public beneflt èntlty under FRS 102, hav2 been
prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reportlng by thafitles- Ststement of
Recommended Practlce applicable to char￿"ÈS prÈparing their a¢iounts in aecordance with the Financlal Reporting
standard appllcable In the UK and Republlc of Irelanil IFRS 1021 leffeetive l January 20191,, Financial Reporting
Standard 102 The Flnancial Reporting Standard applicable in the UK and Republic of Ireland,. EFA, the and the
Companle5 Act 2006. The financial ststements have been prepared under the historical cost conventlon wlth the
exception of investments which are induded at market value.
Golng Concern
The Trustees conslder that theie are material uncertainties zbout the TrusV5 ablllty to contlnue as a 8DSng
concern.
Prepar*lort of consolldated finaftdal statem
The finaThcial ststernents contsin information abo￿ The Spring Arts & Heritage Centre Co Ltd as an individual charfty
and do not contain consolÈdated ffnancial information as the parent of a group. ThÈ charity has taken the option
underseclion 398 of the CompaniesAtt not to prepare consolidated financlal statements.
Intome
All Income Is recognised In the Statement of Finantial Activitses On￿ the charity has entitlement to the funds, It Is
probable that the Income wlll be reofved and the amount can be measured reliably.
Exp￿dIt￿re
abilitie5 are reco8ni5ed a5 expendtture as sooTr as there is a legal or construLtive obligation comrnittiTrg the charlty
to that eX￿nditUTe. it Is probable that a trdnsfer of ecor￿rniC benefits ￿11 be required in settlement and the amount
of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been c13S5ified
undor headin8$ that a8gre8ate all cost related to the category. whe￿ wsts cannot be dI￿ttlY attrlbuted to particular
headln8S they have been allocated to acttvities on a basi5 IXln5iStent with the use of resources.
Support costs tnclude central functions and have been allixated to activity tom categorfes on a basls conslstent with
the use of re50urc£s.
Dtprttiat%on
Tangible fixed assets are depreciated on a siraight line basis overthe estimated useful Ilfe as follows..
-Flxtures, fittjngs and equlpment 25% per annum.
Individual fixed assets costing £5C(lorrnore are captLalised at cost.
Stocks
Stoc*s a￿valued atthe lower of cost and net realisable value.
Page 18

ThE SPRING ARTS & HERITAGE CENTRE CO LTD
REGISTERED COMPANY NO 02068483
NOTES TOTHE FINANCIALsfATEMElItS
Fund gtrurture
The Trust has a number of restricted income funds to accoutrtfor SI￿ationS where a donDr requires that a donat¢on
must be spent on a particular purpose orwhere funds have been raised for a speufic purpose.
Unrestricted funds comprisé those funds whlch tho Trustees are free to use for any purpose in furtherance of the
charitable objeLts. Unrestricted funds indude desl8natsd funds vthere the Trnstee5, at their discretion, have created
fund for 3 specffic purpose.
Penslon ¢orts and other post4etlrement beneffts
The charitable company operates a deftned Contrib￿lon pension scheme. Contiibutions payable to the charitable
company's penslon scheme are Ihar8ed tothe Ststementof Frnanoal Acuvlues in the ￿riod to which they ￿late.
Flnancial Instrument$
The chailty only enters into basic ffnandal instruments transactions that result In the reco8nition of flnarsclal assets
and liabilities like trade and other accounts re￿1vable and payable investments in stocks and shareg. The
mea5uremEnt ba515 tLsed forthese financial instruments Is detailed below.
Oelxors and Cash at bank
Trade and other debtors are recognised at the setdement amount due afteraThy trade discount offered. Prepayrnents
are valued at the amount prepald net of any trade discounts due. Cash ai bank and In hand Includes cash held on
deposit or in a current account.
C￿dItorS and wo¥lslon5
Creditors at)d provisions are recow)Ised where the chartty has a present obligation resuking fmm a past event that
will probably ￿sUIt in the traTh5fer of funds to a third party and the amount due to settle the obligatlon can be
measured or estimated ¥eliably. Creditors and provsions a￿ nomally recognised at their sett]ement amount èfter
allowing for anytrade discounts due.
Page 19

THE SPRING ARTS & HERITAGE CENTrE CO LTD
REGISTERED COMPANY NO 02088483
NOTESTO THE FINANCIALsfATEMENTS
2 DONATION, LEGACIES AND GRANTS
2025
8.744
281,132
289,876
20Z4
31,200
261.458
292 658
Donations
Grant5
Grants received, Induded In the above, are as follow5..
2025
43.000
28.750
122,208
20,(KK)
2024
45.000
28,750
122.208
H3rnP5hire County Councll CO￿ Fundin8
Havant Borough Council Core Fundin8
NPO Core Funding
Garfield Weston
HaThp5hire County Coundl- Projert Funding
Open up & Take Over
National Lottery Heritage Fund- Projert Funding
National Lottery Heritage Fund- CCR
Havant Lottery Magic Library
24,605
38.569
59,500
281,132
261.458
3 OTHER TFLADING AcfiviTIÉS
2025
1.687
3A65
5,152
2024
Fundralsing events
Membership fees
3.860
5,269
4 INVE5TMENTINCOME
2025
5,922
5,922
21)24
4.846
Deposit account interest
All investment income is derived from assets held in the United Kingdom.
5 INCOME FROM CHARITABLE AcfMTIES
2025
77,581
185,582
63.514
80.194
406,871
2024
69,913
180,538
49,427
61,080
360.958
Lettin￿
Professional prtswamme Ilncludin8 Visual Arts)
Participation programme
Box offlce service
Page20

THE SPRING ARTS & HERITAGE CE14TRE CO LTD
REGISTERED COMPANY NO 02088483
NOTESTO THE FINANCIALSTAYEMENTS
6 RPJSING FUNDS
Ralslnldonationsand lèrdcIÈs
2025
3,S57
7,650
11,207
Staff costs
Fundralslng costs
2,474
13,784
16,258
7 CHARITABLE AcrivrriESCOSfs
2025
Performance activities
Dlrect cosls
Support costs (see note Sl
419,702
232,507
652,209
46D,067
230,961
691,028
SUPPORT COSTS
2025
2024
Performance activitses
Management
Governan￿ costs
22S.916
6,592
232,507
224.662
6,299
230,961
Support Costs, Included in the above. are asfollows-
2025
Management
Wages
Soeial secuilty
Pensions
Insuran￿ and licenses
Utllitles and maintenance
Adminlstratlon, postsge and IT costs
Sundry
Technical
Depreclation of tangible and heritage assets
75,1M19
10,032
3,7CO
8,240
52.784
33.916
25,620
8,083
8.530
22S.915
54.296
11,005
4,125
9,363
54,986
36,661
28,042
14,642
11,542
224,662
2025
2024
Gov4man¢e C<￿1$
Wages
Auditors. remunerdtion
3,557
3.035
3,299
3,000
Pa8e 21

THE SPRING ARTS & HER￿AGE CENTRE CO LID
REGISTERED COMPANY NO 02088483
NOTESTO THE FINANCIAL STATEMENTS
9 NET INCOME (EXPENDITURE)
Net intome/lexpendlturel is stated after thai8ingll(redivn
20Z5
20Z4
3.000
Audltors, remuneration- current yearfee
Auditors, remuneration- other services
DEpreciation- Dwned assots
Surplus on dispo￿1 of fixed assets
19.597
559
21.505
1,085
10 TRUSTEES, REMUNERATION AND Bf NEFfr5
During the year notrustees receNed remunera1ion orotherbeThefits12024- Enill.
Trustees. expenses
No expenses were p2id to any trustee director duringthe year12024: Nill
11 STAFF cosr5
2024
224,551
11.(M15
4,125
239,681
Wages and salaries
5o¢lal securfty costs
Other pen51on
251.087
10,032
3.7
264,820
The average monthly number of employees during the yearwas as follows-
2024
18
Arts Centre staff
19
No employee re¢ewed emoluments in eX￿s5 of £60,Cts)12024'. nonel
There are no iedundancy costs included within wages and salarie512024: £nill.
During the year £38,72912024.. £22,920 was paid by The Spring to Self employed tutors and theat￿ pro8rnmmln8
consultants.
The key m8na8ement personnel of the charity comprise the trustee5. the c(Khief executives and the senior
managernent team. The total eMpl0￿ment benefits ol the key management pe￿Onnel were £122,894 12024..
£103,760).
Page 22

THE SPRING ARTS & HERJTAGE CENTrE CO LTL7
REGISTERED COMPANY NO OZ088483
N07E5 TO ThE FIPIANCIAL5TATEMENT5
12 COMPARITIVES FOR THE STATEmETr￿0F FINANaALACTivmES
Unrestrkted
funds
Restricted Total fund5
funds
INCOME AND ENDOWMETrifs FROM
DonatSons and legacies
Charltable actl7Aties
Performance activitios
Other tradlng activitles
Investment income
othEr income
Total
223.062
69,596
292,658
360,958
5,269
360,958
5,269
4,846
19,043
682,774
19.043
613,178
69,596
EXPENDITURE ON
R2ising funds
Charftable artlvltles
Perfom)ance attlvltle5
Totzl
116,2581
116,2581
1617.4891
1&43,7471
173,5391
173,5391
1691,0281
1707,2861
INCOMVIEXPENDITURE}
120,5691
3.943
124,5121
Transfer between futj
Npt mobyment In fund5
20.569
3.943
RECONCILIATION OF FUNDS
Total funds bfoL¥ht forward
258.927
17,264
276,191
TOTAL FUND5 CARRIED FORWARD
238.358
13.321
251.679
13 TAXATION
The company Is a registered charity and no provision is cO￿dered necessary for taxatlon. No 113bilty to UK
corporatlon tax arose on thÈtr4din8 5ub5idlary'5 ordlnary athttiesfor the year ended 31 Marth 202412023.. NIII.
Pa8e 23

THE SPRINGARTS & KERffAGe CENTRE CO LTD
REGISTERED COMPANY NO 02088483
NOTE5TOTHE FIt4ANCIAL STATEMENTS
14 fANGIBLE FIXED ASSETS
FlxluTes &
Fittings
COST
At 31 March 2024
Additions
Disposals
At 31 March 2025
170,460
11.414
12,0631
179.911
DEPRECIATION
At 31 March 2024
U)arge for the year
Elimln4ted on disposal
At 31 March 2025
1146,6061
119.5971
1,504
1164.6991
NET BOOK VAWE
At 31 March 2024
At 31 March 2025
23￿54
15 FIXED Ass￿ INVESfMENT5
MARKETVAWE
At 31 March 2024
At 31 March 2025
25,1
25,10)
NET BOOK VALUE
At 31 March 2024
Addition5
At 31 March 2025
There were nts Investment assets Outside the UK.
25.1(X)
25.1
The company's investrnents atthe bzlance sheetdate In the share capltal of ¢ompanles Include the followlng..
Havant Arts ACt￿e Limited
Nature of business: Bar and café
Jass of share:
Ordinary shares issued at£1
holdin8
i(x)
2025
31,949
414
2024
32,125
18,834
Aggregate capital and reserves
ProflVILossl for the year
All of the 8roup's investment itKome arised from UK bank3ccount interest.
Page 24

THESPRING ARTS & HERtfAGECENTrE co In)
REG15fERED COMPANY NO 021)88483
NOTÉS YO ThE FINANCIALSTATEMEpirs
16 DEBTORS: AMOUN[5 FALLINfj DVE wmiiN ONE YEAR
2025
7.335
11301
12.838
20.043
2024
5,707
20,306
33,580
60,593
Trade debtors
Amounts due from subsidiary undertaking
Prepayments and accrued income
17 cRED￿oR5. Amoupifs FALUNG DUE wmiiN ONE YEAR
2025
147,6091
13,4331
110,1631
141,7521
IlQ2,9571
Z024
127,5591
14,3981
125,0981
193,5311
150 5861
Trade ¢redltors
SociAI securlty and other taxÈs
Other creditors and acuuals
Deferred income
Deferred income comprises monies recelved in ailvance forevents and workshops held afterthe year end.
2025
193,5311
93,531
141,7521
41,752
Broughtforwsrd
Amount r£lBased to intomlng resources
Amount deferred in year
Carrled forward
152,9521
52,952
93,5311
193.5311
18 ANALYSIS OF NET ASSETS BEnvEEN FUNDS
2025
Restricted Totsl f￿ndS Total funds
funds
623
Unrestricted
funds
14.489
25.1
331,992
1102.9571
268.624
Fixed 45sets
Investments
Current assets
Current liabilities
15,112
25.100
359,984
1102,9571
297,239
23.854
25,ICKI
353,311
1150,5861
251,679
27,992
28,615
Page 25

THE SPRING ARTS & HERITAGE CENTrE CO LTD
REGisfERED COMPANY NO 02088481
NOTES TO THE FINANCIALSTATEMENTS
19 MOVEMENT IN FUNDS
At31 Marth
Net
2024 movement in
fvnds
Transfers At 31 March
betr4een
2025
funds
Unrest￿rted lunds
General Fund
Emergencry Fund
Infra5trutture- Bulldln8
Patrons, Fund
Heritage Development
110,170
105.LDJ
16.901
3.725
2.562
238 358
5.247 -
51,794
50.CXXI
35,179
3.725
2,562
27,098
63,623
155,000
50,000
12.0801
3,167
268,624
Re5trlcted funds
Havant Lottery Magic Llbrary
Dementia Friend￿Attl￿11eS
CIL Energy Efficlent lrnprovernent Works
Open Up & Take Over
National Lottery Herits8e Fund- Muwm
Reimaginatlon
Councillor Grant5
Pintomlme
688.(KJ
688
2.371
623
24,605
L768
8.106
17.4831
24.605
23.661
3A37
127.0981
328
io
42,392
328
io
,321
127,0981
28,615
TOTAL FUNDS
251,679
45.559
297,240
Page 26

THE SPRING ARTS & HERITAGE CENTrE CO LTD
REGISTERED COMPANY NO 02088483
NOTES TOTHE Fif4ANaAL sfATEMEMrs
19 f4qOVf MEP￿ IN FUNDS
Net movement in funds, included In thÈ above, a￿ as follow5-
Incomtng
sour
Resources Movement In
expendEd
funds
Unr*strictedfunds
General Fund
Emergency Fund
Infrastruciure- Bulldin8
NHLF cai
643,617
1638,3701
5.247
12.0801
12,0801
643,617
1640.4501
3.167
Restrfrt•d funds
Havant Lottery Magic Librdry
Dementia Friendly Artivities
CIL Energy Efflclent Improvement Wotk5
Open Up & Take Over
National Lottery Heritage Fund- Museum Reima8ination
CountillorGrants
Pantomime
11.3121
12,4851
17,4831
688
603
17,483
24,605
23.661
328
iioi
42,392
3x188
24,605
38,569
114.9)81
11721
68.763
26,3701
TOTAL FUND5
712.380
666,820
45,559
Page 27

THE SPIUNG Airrs & HERrrAGE CE14ThE CO LTD
REGisfERED COMPANY NO 02088483
NOTESTO THE F1NANaAL￿ATEmEl￿5
19 MOVEMEKf IN FUNDS
ConM)4rntlvo8 fot m¢mm8M In lunds
At IAprll
Net
2023 m¢)vement In
funds
Transfers At 31 March
betr￿een
2024
funds
unreSt￿rted funds
Generdl Fund
Emergency Fund
Infra5tructure- Building
Patmns, Fund
Heritsge Development
NPO Delivery
PlayArtlst In RÈsldence
70.612
36.788
18.981
3,125
2,562
126.859
119.0891
58.647
68,212
110.170
105,000
16,901
3,725
2,552
12,0801
1126.8591
258.927
20.569
238 358
Re5tritted funds
Dementia Friendly Actlvitle5
Capital Works
CIL Energy Effiaent Improvement Work5
Jubllee 2022
TheArtSpa
National Lottery HeritagÈ Fund- Museum
Reimagination
Chlldren's Activities
Hampshire Open Studios
Summer Reading Challenge
Pantomime
1.374
301
15,589
394
13011
17,4831
1,768
8,106
3,437
3.437
io
13,9431
io
13,321
17,264
TOTAL FUNDS
276,191
124.512
251,679
Page 28

THE SPRING ARTS& HERITAGE CENniE CO LTD
R£GisfEREP COMPANY NO 02088483
NOTES TO THE FINANCIALSTATEMENTS
19 MOVEMENT IN FUNDS
Cornparat￿9 n8t in fLErvJ5. irduded in the above a￿ as folk)ws:
Incomln8
Resources Movement In
resources expended
fund5
Unrestrlttedfvnds
General Fund
Emergenty Fund
Infrastructure - Bullding
Patrons, Fund
612.578
1631.6671
119,0891
12,0801
12,0801
600
20,569
613.178
1633,7471
Re5trfcted funds
Dementia F￿endty Attlyities
Capitsl Works
CIL Energy Efficient Improvement Works
N4tlonal Lottèry Her￿age Fund- Museurn Reima8ination
Summer ReadinB Challenge
Pantomime
13.0131
13011
17,4831
156.0531
16.0001
16791
394
13011
17,4831
3,437
595C(I
io
3,943
TOYAL FUNDS
682.774
1707.2861
24.512
Page29

THE SPRING ARTS & lIER￿AGE CEPMIE CO LTD
REGISTERED COMPANY NO 02088483
NOTES TO THE FINANCIAL ￿ATEmENTs
19 MOVEMENf IN FUNDS
De$l8nated
Emergency Fund
Emer8enry bjnds to tover running and d05ure costs in the eveTht of fundlng
thdrawal.
Funds towards replacement of vltal equSpment for the building.
To 5UPPOrt and develop the contempordry theatre programme and subsidi5e
tickets foryoung people.
For the irnprovement and dellvery of heritsge actNttles.
Infrastructure. Bulldlng
Patron5' Fund
Heritage Development
Restrlcted
Dementia Frlendly Acttvitles
Previously known as the Memory Café and Forget Me Not Films this isfunding
to support dementia friendly actiwtie5.
To fvnd ener8y effioent lighting in the theatre.
CIL EnEr8y Efflaent Improvement
WDrks
National Lottery Heritage Fund-
Museurn Reima8inaUon
Money granted by The National Lottery HerltaEe Fund to undertake a stuity
into reimagining the Museum. The funding is for ptofessional fee5 for
undertaking the sNdy, for training staff in oral history recordin8 and to put on 3
Herftage Fesrival in February 2023. Cosl had been incurred in relation to the
project. bLrt art application for reirnbursement of the expenditure was not
submitted until after the yearend.
Summer Reading Challenge
Money receNed from Hampshire County Council for providing a storytelllng
perforn13n￿ in libraries forthe Summer Roadin8 ChallÈn8e.
DoTratyons receNed to help pay for a Community Pantomlme.
Pantomime
Pa8e 30

THE SPRINGARTS & HERITAGE ￿r{￿lE CO LTD
REGISTERE D COMPANY NO 02088483
NOTES TO THE FINANCIALSTATEMEpirs
20 RELATED PARTY DISCLOSURES
Durfn8 the year Havant Arts AC￿e ￿mIted Invoiced The Spring Arts and Heritage CeThtre Cornpany ￿Mited £17.691
12024.. £13,953> for refreshments, h05Pttalttyand deanlng materfals.
During the year a donation of £S9012024.. £20.0011 was made to The Spring Arts 3nd Heritage Centre Company
Limited from Havant Arts Artive Limited.
Ouring the Year The Sprlng Arts and He￿Lage Centre Company Umlted recharged expenses amounting £S,40012024..
£5,100) to Havant Arts Actlve Um￿ed.
At the year end, there was a balan￿ of £1,4￿ owed to Havatrt Art5 Atilve ￿mited.12024.. £20,31% owed by Havant
Arts Artive Limtedl
Durln8 the year Tilskit Theatre LlmRed. a company with a trustee in common, invoiced The SprirTrg Arts and Herits8e
Cantre Company £8,65012024.. £2,750) fDr perforrnance o)sts.
During theyear no famity member5 of trustees were paid remuneration.12024.. Nonel
21 LEGALSTATU5 OF THE CHARITY
Ihe tharity is a company lirnited by 8uar3ntee and has no share capital. The liability of each member In the event of
w5nding up is limited to £1.
Page 21